Microsoft wows the Street

Microsoft Corp.'s stock soared early Friday after the software giant reported quarterly sales and profit that fell from year-ago results but easily beat Wall Street's forecasts.

Shares of Microsoft (MSFT, Fortune 500) rose more than 10% in early trading. It surged as high as $29.35 at the open, hitting its highest level, on an intraday basis, since June 13, 2008.

The Redmond, Wash.-based software giant said its first-quarter net income fell 18% to $3.6 billion, or 40 cents per share, for the period ended Sept. 30. Analysts polled by Thomson Reuters were expecting earnings of 32 cents per share.

Read Full Article from CNNMoney.com

- Posted: 2009-10-23 10:42:55

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